The Reserve Bank of India (RBI) has cancelled the certificates of registration of 135 non-banking finance companies (NBFCs), marking a significant regulatory action in the sector.
Among the companies affected are Express Fincap House, Akshay Fiscal Services, Times Finance (P), Jupiter Projects (P), Jupiter Finvest, Essel Finance Business Loans, and Citiwide Financial Services.
According to an RBI release, a majority of the NBFCs whose registrations were cancelled had their registered office addresses in West Bengal.
In a separate development, 13 NBFCs voluntarily surrendered their certificates of registration to the central bank. The reasons included exiting the non-banking financial institution (NBFI) business or ceasing to exist as legal entities due to amalgamation, merger, dissolution, or voluntary strike-off.
Companies including J. Thomas Finance, Econ-Super Sales, Hitesha Finance and Investment, Tinnevelly Tuticorin Investments, Carnex Vinimay, and Impact Leasing surrendered their licences after exiting the NBFI business.
Meanwhile, Forerunner Capital Investments surrendered its licence after meeting the eligibility criteria for an unregistered Core Investment Company (CIC), which does not require RBI registration.
Other NBFCs, including Caspian Impact Investments, Hari Darshan Sales, Ivory Consultants, SKA Consultancy Services, Trishita Management, and Suban Trades, surrendered their licences after ceasing to be legal entities due to amalgamation, merger, dissolution, or voluntary strike-off.
The latest action reflects the RBI’s continued oversight of the NBFC sector and its efforts to maintain regulatory compliance across financial institutions.
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